Bitcoin metric sees 'hell of a bounce' in move which historically heralds BTC price bottom

Cointelegraph

Published Jul 10, 2021 07:10AM ET

Updated Jul 10, 2021 05:20PM ET

A classic Bitcoin (BTC) on-chain indicator has seen a “hell of a bounce” even as price action stays uncertain.

In a tweet on July 9, Philip Swift, creator of analytics resource Look Into Bitcoin, highlighted a dramatic change of course for the Puell Multiple.

Bitcoin Puell Multiple vs. BTC/USD chart. Source: LookIntoBitcoin.com

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